Author Archive: Bernews1

Police Release 2011 Crime Statistics

[Updated with video] The police released the crime statistics for 2011, with Commissioner of Police Michael DeSilva saying, “2011 saw the lowest recorded crime figures since comparative records began in 2000. With total crimes at 4,371 this is a decrease of -4.5% on 2010, which is an average of about 12 crimes per day. “Crimes were reduced... Read more of this article

Magazine Praises Yacht Initiatives

At a time when European destinations including Greece and Italy are putting up barriers to visiting yachts by charging berthing taxes and other fees, Bermuda is proving itself to be a safe harbour for sailors the on-line magazine “Sail World” reports today [Feb. 21] “Sail World” celebrated Bermuda’s decision to both streamline... Read more of this article

BIFF’s Oscars Red Carpet Gala

… And the winner could be you at the Bermuda International Film Festival’s Oscars party on Sunday [Feb.26] BIFF, now in its 15th year and considered one of the world’s leading independent film festivals, has teamed with MEF to bring you a night of glitz, glamour and film at the “2012 Live From the Red Carpet” affair. The gala event... Read more of this article

Guilty Plea: Stealing Car Battery

In Magistrates Court this morning [Feb.21], forty-six year old Calvin Virgil pleaded guilty to a charge of stealing a car battery worth $90 from RayClan Ltd. Accepting his plea, Senior Magistrate Archie Warner ordered a Social Inquiry Report and told Mr Virgil to return to Court on 30th March 2012 for sentencing. The Court was told that on New Year’s... Read more of this article

Share Upgrade For Frontline Ltd.

Bermuda-based shipping company Frontline was upgraded by investment analysts at FBR Capital from an “underperform” rating to a “market perform” rating in a note issued to investors todday [Feb. 21]. Separately, analysts at Dahlman Rose upgraded shares of Frontline from a “sell” rating to a “hold” rating in a research note to investors... Read more of this article

Earth Day Student Video Contest

The Bermuda National Trust and Greenrock will host a 2012 Earth Day Student Video Competition for middle and high school students. A global event, Earth Day takes place annually on April 22 with more than one billion people participating in a wide range of environmental activities. Bermuda students are invited to submit a short video (2 – 5 minutes)... Read more of this article

‘Bermuda Has Made Itself Obsolete’

Bermuda’s decision to seek equivalency with the new European Union Solvency II requirements harmonising insurance regulations will make the island “obsolete” as an off-shore domicile says an American industry veteran. Jeff Mulholland, who runs insurance and pensions services for Societe Generale in the Americas, told the “Caymanian... Read more of this article

Allied World U.S. Launches New Division

Allied World Assurance Company Holdings, AG announced that Allied World U.S. has expanded its Professional Lines operations with the launch of a new Mergers & Acquisitions (M&A) division. Initial product offerings for this division include: Representations and Warranties Insurance, Loss Portfolio Transfers, Loss Mitigation Insurance/Litigation... Read more of this article

Golar LNG Partners Issues Results

Bermuda’s Golar LNG Partners L.P today [Feb.21] reports net income attributable to unit holders of $23.1 million and operating income of $33.7 million for the fourth quarter of 2011, as compared to $22.9 million and $28.8 million for the fourth quarter of 2010. As required by US GAAP, following the acquisition of the floating storage and regasification... Read more of this article

Owain Gets Another 15 Minutes Of Fame

Bermuda dramatist Owain Johnston-Barnes is getting his 15 minutes of fame — for the third time. The journalist and creative writer picked up his third Golden Inkwell Award on Saturday [Feb. 18] at the end of the Bermuda Musical & Dramatic Society’s annual “Famous For 15 Minutes” festival for aspiring playwrights. Other finalists... Read more of this article

‘Strenuous Objection’ To Obama Proposal

Revived measures in President Obama’s 2013 budget to forbid tax deductions for reinsurance premiums ceded to foreign-based affiliates including those operating in Bermuda has once again divided American industry groups. Heavyweight domestic US insurers such as W.R. Berkley and Liberty Mutual are pleased with the proposal but other trade groups... Read more of this article

Patton & Watson Compete In Australia

Tim Patton finds himself in 40th and Mark Watson is in 44th after Day One of racing in the 2012 Etchells World Championship. The Royal Sydney Yacht Squadron and Sydney Etchells Fleet are hosting Etchells sailors from around the world. In the 74 boat Fleet, Patton and his crew have 85 points, while Watson – the Argo Group CEO – finished the... Read more of this article